>Bonds are down. Yields are up.(6.338% on the 30 Year). And the Dows up
>about 400 points in the last few days. What the heck is going on?
You don't expect the financial markets to resolve themselves into a coherent narrative now, do you - especially over the space of a few days?
What's going on, I think, is that the great U.S. bull market, the one that began on August 13, 1982, is showing signs of old age. It's taking as long to die as Brezhnev, and I can't decide whether it will go out with a bang or a whimper, but it sure seems to be going out.
Doug